Notification issued to promote use of renewable energy in MSMEs

Published on: 19 Jul 2023 at 10:54 AM

Published by: thefactnews

The Fact News Service

Chandigarh, July 19

The Haryana Government has issued a notification to promote the use of renewable energy in Micro, Small, and Medium Enterprises (MSMEs) in light of the need for green energy and other alternative energy sources to fulfill the world’s future energy demand.

According to a notification issued by the Department of Industries and Commerce, the sources of renewable energy to be adopted by the MSME industry under the State Renewable Energy Scheme include industrial application-based renewable energy, solar PV power generation, solar thermal applications (solar hot water generator and hot air generator), biomass gasifiers, biomass plants, up-gradation of biomass-based boilers and other industrial equipment and machinery based on renewable energy.

Under this Policy, the state government will be given interest subsidy at the rate of 5 percent on a term loan of maximum of Rs. 10 lakh per annum for 3 years to said industries. Haryana’s Micro, Small, and Medium Enterprises Policy, 2019 will be valid till April 25, 2024. To avail the subsidy, the documents in the prescribed proforma can be uploaded on the website of the department up to 3 months before the end of the financial year.

The Director General, Micro, Small and Medium Enterprises, Haryana will be the competent authority to give these incentives. According to the notification, if any applicant is found to have obtained the benefit based on false information, he will be required to refund the incentive amount with 12 percent annual compound interest, and legal action will be initiated against him. Apart from this, any kind of incentive/assistance grant given by the state government can be denied.